Effects of Capital Markets Development on Economic Growth of Western Balkan Countries
European Journal of Economics, Finance and Administrative Sciences, No. 43, p. 88, 2011
11 Pages Posted: 1 Jan 2012 Last revised: 22 Jun 2015
Date Written: October 3, 2011
Through this research paper we have tried to elaborate the issue whether capital market development is an alternative towards economic growth and economic prosperity of developing countries in general, the Western Balkan countries in particular. The focus of the paper is to study the effects of proper functioning of capital markets and their impact on increasing the level of savings, capital investments and in locating relevant resources for long-term financing of the economy. The research paper presents positive and negative arguments, linking the establishment and development of a capital market and its impact on economic development of developing countries, particularly Western Balkan countries.
Keywords: Financial markets, capital markets development, economic growth, Western Balkan contries, stock exchanges
JEL Classification: D53, E44, G15, O16
Suggested Citation: Suggested Citation